Trans Mountain approved for more loan guarantees as pipeline expansion project costs soar

The Trans Mountain pipeline expansion project in Western Canada is already massively overbudget. Purchased by the federal Liberals in 2018 for $4.7 billion, the project is now going to cost at least $35 billion to complete. Global News has learned that — on the Friday before Christmas – Trans Mountain secured yet another government-backed commercial loan guarantee, worth $2 billion. Global News has also learned that Trans Mountain quietly wrote off $1 billion off its balance sheet as interest, project costs soar. Global's Kamyar Razavi reports. For more info, please go to https://globalnews.ca/news/10215455/trans-mountain-cost-federal-government-loan-guarantees/ Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #Pipeline #TransMountain